Question: please do the required in question 4, prep journal entries using the FV-NI method 4. Champ Enterprises, a public company following IFRS, purchased the bonds

please do the required in question 4, prep journal entries using the FV-NI method

4. Champ Enterprises, a public company following IFRS, purchased the bonds of Oatty Corporation on January 1, 10 marks 2021. Interest is payable on July 1 and January 1 of each year. Other information pertaining to this investment follows: Face value of bonds $ 102,000 Stated interest rate 7% Market rate of interest at time bonds were purchased 6% Fair value of bond investment at December 31, 2021 100,500 Maturity date of bond January 1, 2026 Required: Prepare journal entries for Champ's Investments for the year ending December 31, 2021, assuming that the fair value through net income (FV-NI) method is used

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